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India reverses decision to privatise small, ageing oil and gas fields

Creamer Media Correspondent
Reversing its earlier decision to privatise small, ageing or underperforming oil and gas fields held by national exploration and production (E&P) companies, the Indian government has now directed companies to submit time-bound action plans to boost production from these assets. Earlier this year, the Indian government approved the privatisation of 11 small oil and gas fields held by domestic E&P majors, including ONGC and Oil India Limited (OIL), and identified 44 other similar fields wherein it had directed the E&P companies to rope in local or global companies as technology partners to enhance production.

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